The analysis revealed a pattern according to which clients ask for more financing as they get older. On average, 51-60-year-old Filipinos request by 15.8% more than clients in ages 18-24. It stands in contrast with Indonesia that has the highest difference – 37.5%. Vietnam and India have 11.7% and 18.5%, respectively.
However, the size of the requested financing is also worthy of attention. For instance, Indonesia has the lowest figure of $93 although it is ahead of other countries by the nominal GDP per capita. It is 119th globally in the ranking of the IMF for 2018. As for the Philippines, it is very close to Vietnam on the income scale taking 130th and 134th places, respectively. As a result, the average amounts, which local customers ask, varies insignificantly too: $135 and $140, respectively. In contrast, with its 145th place in the world, India has the highest size of the requested amounts – $156.
According to company analysts, people in the Philippines, Vietnam and India may have longer terms of gaps in their budgets. Then, in case of unexpected circumstances, the size of savings or reserved money may be insufficient too. As a result, it makes customers ask for higher amounts to cover the emerged gaps. At the same time, in countries with advanced incomes among the population, customers may take financing directly in a store to pay for a small desirable non-essential purchase.